Marketing is the philosophy which includes or set of all marketing mix, marketing strategies, marketing concept and definition, marketing orientation and importance of marketing.
Marketing is a terms which is generally used to identify customer need and formulate strategies to promote and covert viewer into actual use / customer /consumer.
Marketing concept is the term adopted by marketing. It is a research, analyze, identify and generating need and formulate strategies to promote and covert viewer into actual use / customer /consumer to satisfy needs
Marketing concept and definition stated by different authors in different way some of those are as following:
Definition by Philip Kotler:
“Marketing is the process by which companies create values for customer and build strong customer relationship in order to capture values from customer in return”.
Marketing means ‘Identifying and meeting human and social needs’ or ‘meeting needs profitably’
Definition by American Marketing Association (AMA):
According to AMA Board of Directors, Marketing is the “activity, set of institutions, and processes for creating, communicating, delivering, and exchanging offerings that have value for customers, clients, partners, and society at large”.
Definition by Mary Ellen Bianco:
Marketing includes research, targeting, communications (advertising and direct mail) and often public relations. Marketing is to sales as plowing is to planting for a farmer—it prepares an audience to receive a direct sales pitch.
Definition by Chartered Institute of Marketing (CIM):
“Marketing is the management process for identifying, anticipating and satisfying customer requirements profitably”.
Above definitions of marketing vary based on individual experience and perspectives, they generally refer to engaging a target market of consumers or other users to ultimately sell a product and hopefully to maintain a relationship beyond the purchase.
Simply we can say “Marketing is the process of building a relationship between a company, a product, and a consumer by understanding the value of their needs by focusing on the right product mix in order to achieve the maximum profit potential and sustain the business.”
If those marketers do not understand the value of their product in relation to the customer’s needs, then they will fail in business.